Austria: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Austria

International Monetary Fund

No 2018/272, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2018 Article IV Consultation highlights that Austria’s economic recovery is strong and broad-based. Following several years of slow growth, Austria’s output picked up markedly in 2017, and through early-2018. Output expanded by 3 percent in 2017, boosted by income tax cuts passed in 2016, higher public spending on refugees and a recovery in private investment in 2017, laying the foundation for a sustained robust expansion. Consumer and business confidence indicators have surpassed levels observed before the Global Financial Crisis and credit growth has recovered. The near-term outlook is for strong growth in 2018, at 3 percent, and a gradual return to a potential growth of about 1.75 percent over the medium-term.

Keywords: ISCR; CR; discussion; authority; consultation discussion; cost reduction; house price development; consumer confidence; employment growth; economic policy discourse; cost pressure; Austrian authorities; lending standard; Labor markets; Loans; Fiscal stance; Unemployment; Europe; Central and Eastern Europe (search for similar items in EconPapers)
Pages: 53
Date: 2018-09-12
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